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Zoltek sees sales and profits fall in third quarter
October- 2001
Corpus Christi. TOR is in the process of dismantling a plant in Norway, acquired as part of the recent European transaction, and shipping equipment to both Malaysia and the US. This equipment will be used to produce speciality grades of alumina in Corpus Christi and a new grade of TiO, pigment in Malaysia. Plastics uses for HITOX include PVC pipe and conduit, colour concentrates and vinyl siding, while coatings applications encompass alkyds, acrylic urethanes, high solids systems, water reducibles, water bases and powder coatings. Contuct: TOR Minemls Intwnutionul. PO Box 2544, Coypus Christi. TX 78403-2544, USA; tel. +l-361~882-5175;.f&: +1-361X+3-7619; e-mail: i~f~Oto~mineruls.~onl; URL: WWM:hitox.com
Zoltek sees sales and profits fall in third quarter Carbon libre development company Zoltek Companies Inc reported a net loss of US$4.2 million on sales of $18.7 million, for its third quarter ended 30 June 2001. This compares to a loss of $1.4 million on sales of $20.4 million in the corresponding quarter last year. Carbon fibre sales and earnings were down as a result of deferral of orders from certain large customers, continued over-capacity and distressed pricing across most existing markets. Spending on critical development projects in the US and Europe has also been significantly increased since last year. For the nine month period to the end of June, sales were $62.3 million, up 8.1% on the same period of 2000. Zoltek reported a net loss of $2 1.1 million for the period, which included special charges totalling $11.1 million in the second quarter, a $4.9 million strategic capacity cost and a loss from discontinued operations of $1.8 million. By comparison, the company had a net loss of $3.7 million in the first nine months of fiscal 2000. Zsolt Rumy, Zoltek’s chairman and CEO, said the company has made significant progress in establishing priorities, and has completed critical financing steps in the US and in Europe. “We are convinced that increasing our investment in future markets is key to the near-term commercialization of carbon fibres,” he said.
0200 1 Elsevier Science
Additives.for- Polymers
The company believes that carbon libres will be the material of choice in meeting many of the basic construction material challenges of the 2 1st century, and has been developing products that more readily facilitate the use of carbon libres in high volume applications. While the development and production of carbon libres, particularly for reinforced composites, is Zoltek’s main focus, the company is also involved in the manufacture of other reinforcements, speciality resins, consumable supplies and manufacturing equipment for the composite manufacturing industry. Contact: Zoltek Companies Inc. 3101 McKelvey Road, St. Louis, MO 63044. USA: tel: +l-314291-51 IO: f&u: +l-314-291-8536. URL. ~~~M~~~!zoltek.com
BASF Group weathers the second quarter In its most recent financial results, for the second quarter of 200 1, the BASF Group reports that all segments posted positive earnings before special items, but predicts that earnings for the year as a whole will be down on 2000 figures. Total group sales for the three months were e8329 million, down 7.1% on the same period last year, but for the first half of 2001 as a whole, sales were up 1% to El7 619 million. The group has made many changes to its portfolio since last year, including the transfer of its polyolefins and textile dye activities to joint ventures, the sale of its pharmaceuticals business, and the expansion of its agro products segment, which affected comparative sales figures. The company says its Oil & Gas and expanded Agricultural Products & Nutrition segments performed particularly well in the second quarter, with sales up 30% and 40%, respectively, and income before special items also up on the same quarter of 2000. However, its chemicals businesses have been hard hit by weak demand and volatile raw materials pricing. Sales by the Colorants & Finishing Products segment, which encompasses colorants, coatings, dispersion and other speciality chemicals, were down I .2% in the second quarter at e2 I 15 million, while the Plastics & Fibers segment reported quarterly sales 27.3% lower than in 200 1.
Corpus Christi. TOR is in the process of dismantling a plant in Norway, acquired as part of the recent European transaction, and shipping equipment to both Malaysia and the US. This equipment will be used to produce speciality grades of alumina in Corpus Christi and a new grade of TiO, pigment in Malaysia. Plastics uses for HITOX include PVC pipe and conduit, colour concentrates and vinyl siding, while coatings applications encompass alkyds, acrylic urethanes, high solids systems, water reducibles, water bases and powder coatings. Contuct: TOR Minemls Intwnutionul. PO Box 2544, Coypus Christi. TX 78403-2544, USA; tel. +l-361~882-5175;.f&: +1-361X+3-7619; e-mail: i~f~Oto~mineruls.~onl; URL: WWM:hitox.com
Zoltek sees sales and profits fall in third quarter Carbon libre development company Zoltek Companies Inc reported a net loss of US$4.2 million on sales of $18.7 million, for its third quarter ended 30 June 2001. This compares to a loss of $1.4 million on sales of $20.4 million in the corresponding quarter last year. Carbon fibre sales and earnings were down as a result of deferral of orders from certain large customers, continued over-capacity and distressed pricing across most existing markets. Spending on critical development projects in the US and Europe has also been significantly increased since last year. For the nine month period to the end of June, sales were $62.3 million, up 8.1% on the same period of 2000. Zoltek reported a net loss of $2 1.1 million for the period, which included special charges totalling $11.1 million in the second quarter, a $4.9 million strategic capacity cost and a loss from discontinued operations of $1.8 million. By comparison, the company had a net loss of $3.7 million in the first nine months of fiscal 2000. Zsolt Rumy, Zoltek’s chairman and CEO, said the company has made significant progress in establishing priorities, and has completed critical financing steps in the US and in Europe. “We are convinced that increasing our investment in future markets is key to the near-term commercialization of carbon fibres,” he said.
0200 1 Elsevier Science
Additives.for- Polymers
The company believes that carbon libres will be the material of choice in meeting many of the basic construction material challenges of the 2 1st century, and has been developing products that more readily facilitate the use of carbon libres in high volume applications. While the development and production of carbon libres, particularly for reinforced composites, is Zoltek’s main focus, the company is also involved in the manufacture of other reinforcements, speciality resins, consumable supplies and manufacturing equipment for the composite manufacturing industry. Contact: Zoltek Companies Inc. 3101 McKelvey Road, St. Louis, MO 63044. USA: tel: +l-314291-51 IO: f&u: +l-314-291-8536. URL. ~~~M~~~!zoltek.com
BASF Group weathers the second quarter In its most recent financial results, for the second quarter of 200 1, the BASF Group reports that all segments posted positive earnings before special items, but predicts that earnings for the year as a whole will be down on 2000 figures. Total group sales for the three months were e8329 million, down 7.1% on the same period last year, but for the first half of 2001 as a whole, sales were up 1% to El7 619 million. The group has made many changes to its portfolio since last year, including the transfer of its polyolefins and textile dye activities to joint ventures, the sale of its pharmaceuticals business, and the expansion of its agro products segment, which affected comparative sales figures. The company says its Oil & Gas and expanded Agricultural Products & Nutrition segments performed particularly well in the second quarter, with sales up 30% and 40%, respectively, and income before special items also up on the same quarter of 2000. However, its chemicals businesses have been hard hit by weak demand and volatile raw materials pricing. Sales by the Colorants & Finishing Products segment, which encompasses colorants, coatings, dispersion and other speciality chemicals, were down I .2% in the second quarter at e2 I 15 million, while the Plastics & Fibers segment reported quarterly sales 27.3% lower than in 200 1.